BRADLEY AND MCKEON.
PEN CD-CHGO POL-25 YRS ANY AGE
Synopsis of Bill as introduced:
Amends the Chicago Police Article of the Pension Code. Allows
retirement at any age with 25 years of service. Amends the State
Mandates Act to require implementation without reimbursement.
PENSION NOTE (Pension Laws Commission)
The estimated increase in accrued liability due to HB 3375 is
$19.6 million. The decrease in normal cost is estimated to be
$1.8 million and the payment needed to amortize the estimated
increase in the accrued liability over 40 years is $0.9
million. The estimated reduction in annual cost in the first
year due to HB 3375 is $0.8 million, or 0.12% of payroll.
Last action on Bill: SESSION SINE DIE
Last action date: 01-01-09
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status